Realistically speaking, this is just a start of a bear market. Here are some more charts to ponder.
S&P 500 Nears Bear Market
Dow Nears Bear Market
Nasdaq 100 Index in Bear Market
Russell 2000 in Bear Market
Apple Bear Market
Crude Bear Market
There is nothing magic about 20% declines. It's simply the most widely used definition of a bear market.
Bear markets seldom stop at 20% then magically reverse.
Expect worse, much worse.
Mike "Mish" Shedlock